The Fiji Sugar Corporation (FSC) is seeking to expand its offerings by developing more value-added products and diversifying into areas such as ethanol production, refined sugar, sustainable aviation fuel (SAF), and biomass energy and cogeneration.
According to the FSC, these initiatives aim to reduce the risks linked to market fluctuations and improve its capacity to generate stable, long-term revenues, contributing to building a resilient and adaptable business amid a fast-evolving global economy.
Nitya Reddy, chairman of the board, highlighted that the corporation is engaged with international agencies and bilateral partners to assist in upgrading mills, fostering skill development and training, and assessing projects for potential commercial joint ventures.
“The undeniable reality is that the Fiji sugar industry has lost its competitive edge in the global market, necessitating significant improvements across the entire production and manufacturing chain,” Mr. Reddy stated in the FSC’s 2024 annual report.
He emphasized that this revitalization will require substantial investments in technology, agricultural practices, mill operations, transport infrastructure, and the upskilling of personnel, particularly due to the uncertainties around cane production, a decline in active growers, and diminishing farming returns.
Mr. Reddy noted that the company is evaluating its strategies regarding the future restructuring of mills and their supporting infrastructure.
“Given the long-term repercussions of these decisions and the scale of the investments involved, they will need thorough evaluation by our board in consultation with experts and government officials,” he remarked.
“The board believes it is essential to avoid rushing into short-term fixes driven by popular or expedient motives.”